AUD/USD Down 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Straight Day

Hourly Update

(Last Updated September 30, 2021 21:31 GMT)

At the time of this writing, AUDUSD’s rate is down -1 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDUSD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

AUDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDUSD is down 64 pips (0.88%) since the day prior (opening today near 0.7177), marking the 2nd straight day a decline has happened. Out of the 39 instruments in the Forex asset class, AUDUSD ended up ranking 37th for the day in terms of price change. Let’s take a look at price chart of AUDUSD.

AUDUSD

AUDUSD Technical Analysis

Coming into today the current price of AUDUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 9 out of the past 14 days.